The URL can be used to link to this page

Home My WebLink AboutR-1992-D6164 FieldstoneRESOLUTION NO. 1) f 1 F 4 A RESOLUTION approving the Fieldstone final plat and subdivision submitted by Michael A. Taylor for five lots at North 40th Avenue and Englewood Avenue, subject to all of the conditions contained in the Hearing Examiner's Recommendation; approving an Agreement for Security in Lieu of Bond authorizing the City Manager to sign said Agreement, and authorizing the Mayor to sign the final plat for Fieldstone. WHEREAS, on April 29 and May 20, 1992, the Hearing Examiner held a public hearing to consider the application by Michael A. Taylor for a preliminary plat and preliminary subdivision approval for five lots at North 40th Avenue and Englewood Avenue, said subdivision to be entitled "Fieldstone"; and WHEREAS, on June 23, 1992, the City Council approved the preliminary plat and preliminary subdivision subject to certain conditions and adopting the recommendations of the Hearing Examiner, said approval being contained in Ordinance 3466;. and WHEREAS, at its public meeting on August 11, 1992, each council member declared that he/she had no contact with either the applicant or opponents of this final plat, and the City Council determined that the final plat of Fieldstone conforms to the conditions of preliminary plat approval, applicable state laws, and that the final plat meets the requirements of Title 14 of the Yakima Municipal Code at the time of preliminary plat approval, and WHEREAS, the applicant, Michael A. Taylor, has executed an AGREEMENT FOR SECURITY IN LIEU OF BOND under Yakima Municipal Code, Section 14.25.140, which Agreement has been reviewed and tentatively approved by the City Engineer and the City Attorney; now, therefore, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF YAKIMA: 1. The "AGREEMENT FOR SECURITY IN LIEU OF BOND" is hereby approved and the City Manager is hereby authorized to sign the same on behalf of the City. 2. The Mayor is hereby authorized to sign the final plat for Fieldstone. This final plat approval is expressly made subject to the conditions contained in Hearing Examiner's Recommendation, City No. UAZO Rezone No. 2-92 and UAZO Sub/Prelim. Long Plat No. 2-92, Examiner No. 192-24-14, a true copy of which recommendation and conditions is attached hereto as Exhibit "A" and incorporated by reference herein. The final plat for Fieldstone shall be filed for record as soon as practicable hereafter, together with filing for record the above-mentioned "AGREEMENT FOR SECURITY IN LIEU OF BOND", in the office of the Auditor of Yakima County, Washington, and the applicant shall be responsible for all filing fees in connection therewith. A est: City Clerk taylor\fieldstone.res 080692 tbg:pb -2 Mayor AGREEMENT FOR SECURITY IN LIEU OF BOND PARTIES: Taylor: Michael A. Taylor, as his separate property. City: City of Yakima, a municipal corporation of the State of Washington. RECITALS: Taylor has applied to the City for final plat approval of the proposed Plat of Fieldstone, a subdivision located at 40th and Englewood Avenues in the City of Yakima, Washington. Taylor has received zoning and preliminary plat approval, by Ordinance No. 3466 of the City, dated June 23, 1992. Hearing Examiner, Philip A. Lamb, has issued Recommendations dated June 2, 1992, with respect to required improvements and utility services to the subject subdivision, which were adopted by reference in said Ordinance 3466. Pursuant to Yakima City Code, 14.25.140, Taylor is hereby proposing this security agreement in lieu of a surety bond or in lieu of actual installation of the required improvements in order to obtain final plat approval from the City. This Agreement has been reviewed and tentatively approved by the City Engineer. AGREEMENT: The parties agree as follows: 1. Taylor has established a restricted savings account, being Account No. 2080-966209, at U.S. Bank, Main Yakima Branch, 404 West Yakima Avenue, Yakima, Washington, by depositing therein the sum of $66,000.00, said sum being 110% of the estimated cost of the required improvements. Said account is restricted such that only City shall be permitted to withdraw any principal or interest therefrom, which the City may do upon the signature of the City Attorney or the City Manager. (As interest income on said account will be taxable to Taylor for income tax purposes, the City on request of Taylor shall withdraw accrued interest on such account and deliver the same to Taylor, provided -1- LAW OFFICES OF HALVERSON & APPLEGATE, P.S. 311 NORTH FOURTH STREET — P. O. Box 526 YAKIMA, WASHINGTON 98907-0526 PHONE 575-6611 in 1366 2045 Taylor shall not request the same more than once per year.) Said restriction upon the withdrawal of principal shall continue until City notifies U.S. Bank, by letter from the City Attorney, that City has no further interest in the subject account. 2. The subject account has been established, in lieu of Taylor posting a surety bond, as security that Taylor will make all required improvements in connection with said Plat of Fieldstone, which required improvements are set forth on pages 13-14 of the Hearing Examiner's Recommendations of June 2, 1992. Taylor hereby agrees to make such improvements within one (1) year after final plat approval, or as such deadline may be extended, at the sole option of City, and such obligation shall constitute a covenant against and shall run with Lots 1, 2, 3 and 5 of said Plat of Fieldstone. 3. In the event Taylor defaults in the making of the required improvements, the City, upon thirty (30) days written notice to Taylor and Taylor's continued default thereafter, may make such improvements and reimburse itself for all costs and expenses so incurred, from the subject savings account. To the extent such account is not sufficient to cover all of the same, Taylor agrees to pay such deficiency, and the City shall have a lien against Lots 1, 2, 3 and 5 of said Plat of Fieldstone, which lien may be foreclosed as deeds of trust are foreclosed pursuant to Washington law. 4. When the required improvements have been installed and approved by City, City shall, through the City Attorney, notify U.S. Bank in writing that it no longer has any interest in the subject account, and upon that event, Taylor shall be free to deal with such account as Taylor may see fit. City may, in the interim, permit Taylor to withdraw portions of the principal balance of such account from time to time, for example, as improvements are installed and the need for full security thus diminished, but the same shall be discretionary with City, at its sole option, and not mandatory. While Taylor may request that such reductions in principal be permitted, -2- LAW OFFICES OF HALVERSON & APPLEGATE, P.S. 311 NORTH FOURTH STREET — P. O. Box 526 YAKIMA, WASHINGTON 98907-0526 PHONE 575-6611 VOL 1366 2044 Taylor shall not have any right to demand or force City into granting the same. 5. Upon approval hereof by City, City may record this Agreement with the Auditor of Yakima County, Washington, such recording to be at Taylor's expense. 'DATED this day of August, 1992. A� VERSON & AOCEGATE AUG iZ a IC Ail '3Z STATE OF WASHINGTON) ss: County of Yakima ) Michael A. Taylor CITY OF YAKIMA, a municipal corporation Attest: `e 'a-,, City Clerk CITY CONTRACT N On this day personally appeared before me MICHAEL A. TAYLOR, to me known to be the individual, or individuals described in and who executed the within and foregoing instrument, and acknowledged that he signed the same as his free and voluntary act and deed, for the uses and rposes therein mentioned. en under my hand and offici .4 / €/la. , 1992. taylor\city.agr 080492 tbg:pb LAW OFFICES OF HALVERSON & APPLEGATE, P.S. 311 NORTH FOURTH STREET — P. 0. Box 526 YAKIMA, WASHINGTON 98907-0526 PHONE 575-6611 /seal this (fi day of NOTARY PUBLIC in and for the State of Wash' gtcn, residing at (;`t17C. My commission6expires: VQL 1366 2045 BUSINESS OF THE CITY COUNCIL YAKIMA, WASHINGTON AGENDA STATEMENT Item No. 6 For Meeting of August 11. 1992 ITEM TITLE: Public Meeting to consider the final plat submitted by Dr. Michael Taylor SUBMITTED BY: Glenn K. Rice, Director of Community & Economic Development -- CONTACT PERSON/TELEPHONE: Dan Valoff, Associate Planner, 575-6163 SUMMARY EXPLANATION: On June 23, 1992 the Yakima City Council adopted Ordinance #3466, approving the preliminary plat and rezone of property at the southwest corner of North 40th Avenue and Englewood Avenue. The proposal was for the division of approximately 9.7 acres into 5 Tots and the rezone of a portion of the parcel from R-1 to B-1. The application was approved subject to a number of conditions, including the extension of utilities. Although preliminary plat approval is valid for a period of three years, the applicant has submitted a method of security approved by the City Engineer for the required public improvements as provided for in YMC 14.25.140. Upon review, the final plat is found to be in substantial conformance with the preliminary plat and staff recommends approval of the final plat subject to the City Council approving the method of security submitted by the applicant. Resolution _ Ordinance X Contract _ Other (Specify)Staff Report, Final Plat diagram, Engineer's estimate for improvements, Letter of Security, Parking agreement Funding Source APPROVAL FOR SUBMITTAL: City Manager STAFF RECOMMENDATION: Approve ordinance authorizing Mayor to sign final plat. BOARD RECOMMENDATION: COUNCIL ACTION: Resolution No. D-6164